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Brexit could pose regulatory hurdles for Swiss Re -CFO

Reuters

ZURICH (Reuters) - Swiss Re (SRENH.VX) could face regulatory and operational hurdles if Britain votes to leave the European Union in a referendum this year, the reinsurer's finance chief said on Tuesday.

"We could have a very significant negative impact coming at us from a regulatory compliance point of view but also just from an outright operations point of view," David Cole said in a call with analysts when asked about the potential impact on Swiss Re of a "Brexit".

"I'm referring to a worst-case type of scenario."

Earlier, Swiss Re said it had appointed the head of its main division to take over as CEO when Michel Lies retires in July after announcing a 31 percent rise in full-year net profit.

(Reporting by Joshua Franklin; Editing by Michael Shields)